Lam Research Co. (NASDAQ:LRCX) insider Timothy Archer sold 6,465 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $214.28, for a total transaction of $1,385,320.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Lam Research Co. (NASDAQ:LRCX) traded up $3.70 during trading hours on Monday, reaching $228.65. 4,928,702 shares of the company’s stock traded hands, compared to its average volume of 4,120,000. The stock has a market cap of $37,260.00, a P/E ratio of 78.04, a PEG ratio of 0.90 and a beta of 1.43. Lam Research Co. has a 12 month low of $118.37 and a 12 month high of $230.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.09 and a current ratio of 2.47.
Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share for the quarter, topping the consensus estimate of $3.68 by $0.66. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.57 billion. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. Lam Research’s revenue was up 37.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.24 EPS. research analysts anticipate that Lam Research Co. will post 16.74 earnings per share for the current fiscal year.
Lam Research announced that its board has authorized a stock repurchase program on Tuesday, November 14th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
Several equities research analysts have recently commented on the stock. BidaskClub upgraded shares of Lam Research from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 10th. Vetr lowered shares of Lam Research from a “strong-buy” rating to a “buy” rating and set a $240.39 price target for the company. in a report on Monday. KeyCorp restated an “outperform” rating and issued a $276.00 price target (up previously from $261.00) on shares of Lam Research in a report on Tuesday, March 6th. Deutsche Bank boosted their price target on shares of Lam Research to $250.00 and gave the company a “buy” rating in a report on Wednesday, March 7th. Finally, Citigroup restated a “positive” rating and issued a $290.00 price target (up previously from $260.00) on shares of Lam Research in a report on Wednesday, March 7th. Twenty-six investment analysts have rated the stock with a buy rating, Lam Research has an average rating of “Buy” and an average price target of $239.28.
A number of large investors have recently added to or reduced their stakes in LRCX. Raymond James Financial Services Advisors Inc. grew its position in Lam Research by 8.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,098 shares of the semiconductor company’s stock worth $1,499,000 after purchasing an additional 618 shares during the last quarter. Candriam Luxembourg S.C.A. grew its position in Lam Research by 37.5% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 14,346 shares of the semiconductor company’s stock worth $2,655,000 after purchasing an additional 3,915 shares during the last quarter. Alps Advisors Inc. grew its position in Lam Research by 35.4% during the 3rd quarter. Alps Advisors Inc. now owns 8,248 shares of the semiconductor company’s stock worth $1,526,000 after purchasing an additional 2,158 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Lam Research during the 3rd quarter worth approximately $134,000. Finally, Sei Investments Co. grew its position in Lam Research by 21.6% during the 3rd quarter. Sei Investments Co. now owns 115,789 shares of the semiconductor company’s stock worth $21,428,000 after purchasing an additional 20,588 shares during the last quarter. 90.06% of the stock is currently owned by institutional investors.
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Lam Research Company Profile
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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